Highland Capital Management, a Dallas-based investment management firm, has announced the launch of its non-traded product line with a publicly-registered Business Development Company NexPoint Capital.
The BDC will be the industry’s first healthcare-focused fund of its kind with a target raise of $1.5B in capital for investing primarily in medium-sized businesses.
NexPoint Capital, Inc. represents Highland’s initial non-traded product with the company announcing plans to introduce additional non-traded products later this year. The BDC will be distributed by Highland Capital Funds Distributor, and will be led by Brad Ross, President of Highland Funds, and Brian Mitts, Chief Operating Officer of NexPoint Advisors and head of business development for Highland’s alternative products.
"We believe alternative products offer a compelling, income producing and non-correlated investment option for investors," said Mr. Mitts. "We’re confident our current suite of liquid alternative mutual funds combined with the non-traded products we’ll be launching over the next few months will offer independent advisors one of the industry’s strongest and most robust product lineups."
As part of the firm’s expansion into non-traded products, Highland hired Jennifer Ricci as Director of National Accounts in February, and has added eight wholesalers for the wire house channel and five wholesalers for the independent channel to augment its distribution team. The sales team is dedicated to educating investors on alternative products in the independent broker dealer channel.
Additional Background on New Hires for Independent Channel:
Daniel Church, CFP – Church joins from Franklin Square Partners where he served as Regional Marketing Director and ranked as a top 5 wholesaler among 35 territories for the past 3 years. Church has a B.A. in Economics from Wheaton College.
Anthony Hazen – Hazen joins from BlueRock Real Estate where he served as Regional Vice President for Western regional sales. Hazen worked with broker dealers and registered representatives in selling securitized real estate investment products and registered ’40 act funds. He has a B.A. in Economics and International Relations from University of California, San Diego and a M.B.A. from University of Washington.
Kevin Helwig – Helwig joins from Ascendant Capital/KBR Capital Markets where he served as Managing Director and National Sales Manager. In this role Helwig managed 6 external wholesalers and was responsible for increasing fund growth by 5x per month in alternative sales. Helwig has a B.A. in Economics from University of Arizona.
Michael Klisares, CFP – Klisares joins from ICON Investments where he served as Regional Vice President for the Midwest region and was responsible for distributing credit funds to independent financial advisors. Klisares has over 20 years of experience as a wholesaler and holds a B.S. in Finance from Iowa State University.
Matthew Selman – Selman joins from Dividend Capital Securities where he was Vice President and Regional Director. Selman took what was previously the lowest ranking territory for sales in 2010 to a territory consistently ranked #1 or #2 for sales after his arrival. Selman has a B.B.A. in Marketing and Professional Selling from Kennesaw State University.